Eurozone finance ministers have rejected Greece's bid to get back badly-needed cash, driving Athens closer to the brink of a potential bankruptcy next month. But relief could be on the horizon.
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How the world sees Greece
Thursday, March 26, 2015
Wednesday, March 25, 2015
President Obama Sends Warm Message to Greece on Greek Independence day
U.S. President Barack Obama expressed his support to Greece and its people on the occasion of the Greek Independence Day. March 25 marks the annual celebration of Hellenism and the country’s independence, and Obama took this chance to stress the ...
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| READ THE ORIGINAL POST AT usa.greekreporter.com |
Greek central banker optimistic on chances of debt deal
The chances of Greece doing a deal with its European creditors have grown since a meeting in Berlin this week, Greek central bank governor Yannis Stournaras said on Wednesday, adding that an exit from the euro would only bring his country more pain. Speaking to a packed hall at the London School of Economics, Stournaras also said the European Central Bank's latest increase in emergency funding ...
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| READ THE ORIGINAL POST AT news.yahoo.com |
EU Gives Greece Five Days Or Else
Exasperated by constant delays, the Eurozone has given Greece until March 30 to come up with real reforms or loans will be stopped.
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| READ THE ORIGINAL POST AT www.thenationalherald.com |
Greek Rescue Needs to Be Long-Term
In the next few days, it will become clear whether there is any realistic prospect of Greece remaining within the eurozone. After two wasted months, Prime Minister Alexis Tsipras appears finally to have conceded that his quest for blank checks was futile.
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| READ THE ORIGINAL POST AT www.wsj.com |
Greek central bank governor says 'Grexit' is not an option
LONDON (MarketWatch) -- Bank of Greece Governor Yannis Stournaras on Wednesday rejected the idea of a Greek exit from the eurozone, arguing that a so-called "Grexit" would "deliver no benefit but a lot of pain." Speaking at an event in London, the governor said the Greek economy has already restored competitiveness by driving down wages and prices, so there's no reason for an exit. "In case of ...
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| READ THE ORIGINAL POST AT ri.search.yahoo.com |
Euro Working Group: 1.2 Bln Euros from EFSF Frozen
The Euro Working Group discussion on the Greek issue ended shortly after 2pm on Wednesday, March 25. The Eurozone officials decided that Greece had no claim to the 1.2 billion euros that the country requested from the European Financial Stability Facility (EFSF), which were linked to a scheme for recapitalizing banks. However, EFSF officials noted that this was the first discussion on the issue of Greek bonds that were returned to EFSF in late February, and there would be further consideration on how to deal with the issue in the future. “There was an agreement that, legally, there was no overpayment from the HFSF to the EFSF. The EWG will consider how to move forward on this issue in due course,” an EFSF spokesman said. The former Greek government led by Antonis Samaras decided on proceeding with the recapitalization in cash, rather than in EFSF bonds, because it was easier than the formal procedure of unlocking EFSF funds for recapitalization. However, the new SYRIZA-led government, which has been cut off from markets, is desperate for revenues as it has to make its debt repayments. Therefore, the government wishes to reverse that decision in order to use some of the remaining EFSF bonds to recapitalize banks and take back its cash.
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| READ THE ORIGINAL POST AT greece.greekreporter.com |
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